Specialisation/etransformation & growth/analyst presentation

AUSTRALIA & NEW ZEALAND BANKING GROUP LI 2000-07-18 ASX-SIGNAL-G
HOMEX - Melbourne
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MEDIA RELEASE
ANZ today announced it would move to a portfolio based approach for
managing its businesses to enable them to develop into specialist
growth businesses in their own right.
ANZ said it would also use technology to transform its existing
businesses and focus on creating new growth opportunities.
In a strategy seminar, ANZ Chief Executive Officer, Mr John McFarlane
said ANZ believed globalisation, the internet and changing customer
expectations would accelerate the disaggregation of traditional
integrated financial services companies.
"These forces will impact financial services businesses at different
rates in different countries however their long-term impact is
inevitable," Mr McFarlane said.
Mr McFarlane said the rise of global financial service specialists
meant that ANZ had to specialise and have strong capabilities in its
portfolio businesses in the long term.
"The sale of ANZ Grindlays, yesterday's joint venture announcement
with OCBC and our alliances within individual businesses such as the
Qantas Telstra Visa Card and ANZ E*TRADE, are very consistent with
the more active portfolio management approach we are taking to our
businesses," Mr McFarlane said.
"This new strategic focus will allow us to focus on making our key
businesses more valuable to our customers and our shareholders, and
provide greater opportunities for our staff," he said.
As part of the approach, which aims to prepare ANZ for the
globalisation of financial services and the new economy, ANZ will:
* Reconceive ANZ as 21 specialist businesses, each to be developed
strategically with a strong customer focus. This includes the
creation of three new customer businesses - Wealth Management, Small
Business and General Banking, and accelerating the growth of strong
product focused businesses including one new product business, Global
Transaction Services. The portfolio business mix, resource allocation
and brands will be actively managed from the centre.
* Become an "e-bank with a human face" by embracing new technology
which transforms the economics of the business and enables ANZ to
provide its customers with a multi-channel, personalised experience.
* Create a portfolio of valuable growth businesses built around
e-commerce and ANZ's other core capabilities which can be leveraged
regionally or globally. Key priorities include eprocurement,
epayments and eAsia, building from the OCBC alliance announced
yesterday.
Commenting on current business performance, Mr McFarlane said: "We
are continuing to experience strong business conditions and are on
track to achieve double digit earnings growth for 2000, comfortably
within the current range of market expectations."
In line with the new approach Mr McFarlane also announced changes to
ANZ's organisational structure which will see Mr Elmer Funke Kupper
join the Group's Executive Management Committee as Head of New Growth
Businesses including International.
For media enquiries, please contact:
Paul Edwards
HEAD OF GROUP MEDIA RELATIONS
Tel: 03-9273 6955 or 0409-655 550
Copies of the presentation materials are available in the Shareholder
Room on anz.com and an audio webcast of the briefing will be available
on anz.com from approximately 5.00pm today.
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